“DO NOT DISTURB TENANTS”…what’s up with this listing?

[Anonymous]

Anonymous wrote:Is that price low enough for that situation?

Possibly. The house is
$420K, 4BR, 3ba, 1287 sf

Of nearby SFH listings, there are only two others in the ballpark:
$419K, 3BR, 1ba, 806 sf
$435K, 3BR, 1ba, 768 sf

All other listings in the area are $500K and over. If you are looking to get into Rockville and don't have $500K, this could be the way to get a starter home that isn't a tiny apartment-like box.

[Anonymous]

Anonymous wrote:

Anonymous wrote:it seems risky to buy a house (despite being sight unseen) and then have to wait a year to be able to do anything with it. If you borrowed money to buy it I'm guessing the interest and taxes would exceed what the rent is considering the condition of the house. And you couldn't even get into the house to measure or start planning for a reno/ remodel. The only thing that would make sense if it was a teardown - the plans for a building permit could be started right after closing and be ready for when the tenant moves out. I'd love to know more details about this listing!

No one is lending you money to buy this.

CASH ONLY

[Anonymous]

Anonymous wrote:What the hell.

+1

How do you not know the room count?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What the hell.

+1

How do you not know the room count?

Tenant knocked down or put up walls. Or the owner died/got dementia and nobody else has been in the house but the uncooperative tenant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Tear it down and build new.

Is that a tear down neighborhood?

There are a few below Veirs Mill in the Richard Montgomery district but I don’t think any above in the Rockville district. I own two similar rentals near there and this isn’t priced quite low enough for this situation IMO - should be less than $400K. It’s a foreclosure which is weird since the owners bought it for $420K in 2006.

If it's a foreclosure, the tenants are likely being jerked around between the bank and the owners of the house. Which entity gets to keep the rent checks? Who is responsible for making the repairs to the house? Are repairs still being made? Maybe it is because I am a tenant, but I am not necessarily sensing problem tenants here.

[Anonymous]

Anonymous wrote:it seems risky to buy a house (despite being sight unseen) and then have to wait a year to be able to do anything with it. If you borrowed money to buy it I'm guessing the interest and taxes would exceed what the rent is considering the condition of the house. And you couldn't even get into the house to measure or start planning for a reno/ remodel. The only thing that would make sense if it was a teardown - the plans for a building permit could be started right after closing and be ready for when the tenant moves out. I'd love to know more details about this listing!

CASH ONLY!
No financing contingencies. No CONTINGENCIES for ANYTHING.
CASH ONLY.

[Anonymous]

Ok, who's gonna call the listing agent Faith Rosselle of Rosselle Realty Services and find out what the real deal is?

Me thinks she's gonna have to work HARD for that 2% commission.

[Anonymous]

Does the grow house equipment convey?

[Anonymous]

Anonymous wrote:Does the grow house equipment convey?

Lol. Seriously.

[Anonymous]

Anonymous wrote:

Ok, who's gonna call the listing agent Faith Rosselle of Rosselle Realty Services and find out what the real deal is?

Me thinks she's gonna have to work HARD for that 2% commission.

Please someone call!

[Anonymous]

So many red flags! Twinbrook is a great neighborhood for starter homes. That was where I lived when I first got married in 2001.

The fact that they're trying to sell a house before the tenants contract is up in May tells me that they are pawning off awful tenants to a new owner.
The cash only means that the bank would not guarantee a loan for the price of the house.

Only a fool, or a developer with deep pockets would bother with this listing

[Anonymous]

Anonymous wrote:

Ok, who's gonna call the listing agent Faith Rosselle of Rosselle Realty Services and find out what the real deal is?

Me thinks she's gonna have to work HARD for that 2% commission.

Come on friends, who's gonna do this?? 😁
I know one of you wants to!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does the grow house equipment convey?

Lol. Seriously.

It can be yours for, drumroll please, $420k!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is that price low enough for that situation?

Possibly. The house is
$420K, 4BR, 3ba, 1287 sf

Of nearby SFH listings, there are only two others in the ballpark:
$419K, 3BR, 1ba, 806 sf
$435K, 3BR, 1ba, 768 sf

All other listings in the area are $500K and over. If you are looking to get into Rockville and don't have $500K, this could be the way to get a starter home that isn't a tiny apartment-like box.

I still don’t think it’s low enough.

The one house just listed in that zip code for $625k must be a flip and it’s probably listed too high. It just sold in Sept for $320k.

[Anonymous]

If you want to sell a house that you don’t own, this seems like a pretty good script for how to do it.